US State Department – Targeting Iran’s Petroleum Trade

Posted on July 6, 2022Comments Off on US State Department – Targeting Iran’s Petroleum Trade

Targeting Iran’s International Petroleum Trade

Washington, DC – Secretary of State Antony J. Blinken released the following statement:

The United States is designating 15 individuals and entities that engaged in the illicit sales and shipment of Iranian petroleum, petroleum products, and petrochemical products.  These entities, located in Iran, Vietnam, Singapore, the United Arab Emirates (UAE), and Hong Kong, have supported Iranian energy trade generating millions of dollars’ worth of illicit revenue.

The Department of State is designating one Vietnam-based entity, Truong Phat Loc Shipping Trading JSC, for engaging in the shipment of petroleum products from Iran.  Truong Phat Loc Shipping Trading JSC served as the commercial and technical manager for a vessel that transported Iranian petroleum products.  The State Department is also designating one Singapore-based entity, Everwin Ship Management Pte. Ltd., which has engaged in the transport of Iranian petroleum products.  Everwin Ship Management Pte. Ltd. served as the technical manager for a vessel that transported Iranian petroleum products.  Additionally, the State Department is designating three Iran-based entities, Zagros Tarabaran-E Arya, Persian Gulf Star Oil Company, and East Ocean Rashin Shipping Co. Ltd., which have engaged in the sale and/or shipment of Iranian petroleum products.  Zagros Tarabaran-E Arya is a shipper of Iranian petroleum products, while Persian Gulf Star Oil Company is the largest producer of gas condensate in Iran, and as such, has directly engaged in the production of Iranian petroleum products.  East Ocean Rashin Shipping Co. Ltd. is a port agent and freight forwarder of Iranian petroleum and petrochemical products.  These actions are being taken pursuant to Executive Order 13846.

In addition, the Department of the Treasury is designating eight entities and two individuals located in Iran, Hong Kong, and the UAE, that support the continued involvement of Naftiran Intertrade Company, Iran Petrochemical Company, Persian Gulf Petrochemical Industry Commercial Company, Triliance, and Behran Oil in the sale of Iranian petroleum and petroleum products abroad.

The United States has been sincere and steadfast in pursuing a path of meaningful diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action (JCPOA).  It is Iran that has, to-date, failed to demonstrate a similar commitment to that path.  Absent a change in course from Iran, we will continue to use our sanctions authorities to target exports of petroleum, petroleum products, and petrochemical products from Iran.

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